Wall St ends slightly higher after Fed policymakers back rate cuts

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Go back to Wall St ends slightly higher after Fed policymakers back rate cuts

Fed's Bostic says economy returning to normal, policy should also 'normalize'

September 23, 2024 9:37 AM EDT

Raphael Bostic, President of the Atlanta Federal Reserve, believes the U.S. economy is on a sustainable path toward price stability, justifying a reduction in the federal funds rate.

In remarks prepared for the European Economics and Financial Centre, Bostic explained why he supported a 50-basis-point cut in the federal funds rate at the September 2024 Federal Open Market Committee (FOMC) meeting.

"Progress on inflation and the cooling of the labor market have emerged much more... More